About

Forex Philippines was born when a young business owner thought of having a well documented forex trading journal. But as the day went by, due to sometimes an alarming volume of red colored digits in his forex account, he may forgot to update this blog from time to time. You can see that he posts a lot when trading go well. Bragging rights if you may say. Forex Philippines is a personal journal of the author as he ventures in this world wide casino market also known as FX or Forex Market.

About ForexPhil

ForexPhil, the author of this blog, is a full time business owner and wants to venture out on a riskier (and stupid) investment and decided he wants to risks all his hard earned cash on the flip of a coin known as the forex market. This drunk business owner suddenly felt the need to retire at a young age of 25 and so he wants to risk big, earn big and fast and started to trade in the year 2009. Little do we know that he already almost got bankrupt at the end of 2010. Which luckily enough got out of the red on the 3rd quarter of 2011. Lucky bastard indeed…

Now having taught himself how to trade forex with a new found ego, and false confidence about the forex market, he now wants to break a new record on his forex trading goal. How long before he reach another bankruptcy is still left unknown.

Because he is not satisfied with just an iPad as a reward or a MacBook for achieving his goal, his ultimate goal is to travel the world funded by his forex earnings, meeting people (aka girls) and discovering new cultures on all parts of the world. He likes martial arts, boxing and karate and any contact sport that allows you to beat some other guys ass. Literally.

If he is not blogging and trading. He is usually hanging around the forex forums, drop by and say hi!

Disclaimer

All information found in this blog is for educational purposes only. Do not take it as trade recommendations.

  • http://www.rivac7powerfx.blogspot.com riv

    I thought you have been hacked? Good to know that you recovered…

  • ForexPhil

    hi Riv,

    Yes. I was. Nothing serious. Kids these days. :)

  • http://www.rivac7powerfx.blogspot.com riv

    hehe.. you made me laugh there…

  • http://babypips.com Forex Gump

    Hello! Nice blog! Have you checked out babypips.com? I also think our members on meetpips.com would enjoy your chart analysis. :)

  • ForexPhil

    Hi. Thanks. I’m a member of both sites. :)

  • xtian

    ano platform n ginagamit mo for forex trading?

  • eric

    fellow pinoy trader here…

    was wondering if there are any groups or organizations of forex traders here in manila?

    it would be nice to have a support group during those bad, and also good times, right?

  • ForexPhil

    @xian
    metatrader

    @eric
    …and group hugs?
    There are traders here in manila.

  • moldsz

    hi guys,

    i’ve been organizing brainstorming groups who has the same goal as yours. I have attended several mentoring programs and has dedicated one year learning forex thru reading books/blogs/forums, got zeroed many times on my accounts due to greed and over trading. I would love to hear your strategies to tame the forex market…

  • lyle peterson

    Who are the top forex trading companies in Manila? and do you subscribe to any newswire platform to trade via metatrader?

  • ForexPhil

    @lyle,

    None. There are no forex trading companies in the Philippines. I don’t subscribe to any news. I trade by the charts only.

  • Wendy

    Hello ForexPhil, is there anyway I can learn forex in the Phils.???  I’m completely clueless in forex… I’ve been reading some articles from the internet (Babypips) but I still can’t grasp the whole idea. I don’t want to buy some ebooks, indicators or robots from the net coz i feel that they’re all bunch of scams. I’ve been trying to trade thru the demo account but i always end up losing  the account. Is there anyway I can improve my trading??? Can you give me idea what to do??? Plz share share something….     Thanks. 

  • ForexPhil

    Hi Wendy,

    I wish I can help you and I know how you feel. I’ve been there. But there’s no other way to learn forex but to practice demo trading and reading books. Other than books, read newspapers focusing on world news and you can see the corelation of currency with the news.

    If you want to trade using technical analysis, get yourself a copy of Steve Nison’s book about Japanese Candlesticks. Then a copy of Market Wizards. There will be a whole lot of reading. :)

    About the seminars, unfortunately, there are no forex seminars that I know of in the Philippines. All Filipino traders that I know are either self taught or was employed as a securities trader for brokerage firms.

    But there are seminars for stocks if you are interested to start in those, just head over to http://www.pse.com.ph.

    Good luck and don’t hesitate to ask questions.

  • kenneth

    There are forex brokers in the Philippines. Zone Equity, for one is operating since 1993. If you’re keen in learning forex, we can schedule a comprehensive training for you.

  • kenneth

    Sorry sir for intruding. We have forex brokers here. Zone Equity is physically located in Makati and it has been operating since 1993. 
    http://zoneequityltd.com/

  • Richard

    Hello ForexPhil, may i know which fx broker you can recommend here in the Phil.? Your advice would be really appreciated, thanks.

  • humanandprice.blogspot.com

    hi, hows your trades going now? have you already come up with your strategy?

  • http://www.humanandprice.blogspot.com/ riv

    hi have you tried fxstreet.com?

  • Reynan

    Admiral markets… they have office in ayala.. if you want to know more, i can help you.. 09178091303.

  • Dave

    Thanks for more resources like this. I just signed up a free account with FX Solutions. Any tips?

  • PValler

    I like the little disclaimer part, Btw my name is Paolo and I’m new to this industry, looking forward to learning great stuff from the experts! :)

  • Juan dela Cruz

     Hi bro ;-) Allow me to share. First focus on just one currency, I mean trade one currency only. I recommend USD/CAD. Focus more on Support/Resistance, Fibonacci, Price Action (Candlestick Action, common patterns, study Nison books), be mindful about daily pips range, example usd/cad average 60-80 pips daily. See how currency behaves on Asian , London and US session they have their own patterns. Do’nt trade during fundamental news, refer to forexfactory.com for news. Target pips not monetary value, I mean just aim 20-30 pips a day consistently. Forex moves by cycles that are predictable. Have this in mind, price movements is unpredictable but who moves the market ? Traders obviously, humans are predictable , has fear and greed. Forex is more on human psychology the drives the market. We are creatures of habit, that habit thing cause human to be predictable, therefore in general sense forex is predictable too ;-) not to obvious but soon it will , if you just observe how the price reacts on every session. Try not to swing trade, day trading is more profitable and predictable. You go in and out daily, if it allows for profit. Google london break-out methods its good for riding a trend. Focus on 1:3 profit ration. It just means you will afford to loose 1 piso in order to get 3 piso. Demo is good but not for long. Try cent account instead. You have to test your skill if you survive the learning curve. Yes there is holly grail in forex but you have to discover it by your own effort, its because people who stumble upon don’t have time to share it to anyone because secret is power ;-) Good luck .

  • ForexPhil

    That’s a very good advice.

  • http://www.facebook.com/angel.catalan.1654 AngeLie CataLan

    exness. leverage is up to 1:2k,, each currency pair would cost atleast less than a dollar. ;) co0L but risky. but still co0L

  • http://www.facebook.com/angel.catalan.1654 AngeLie CataLan

    i wnt to become a part of your group! ;)

  • bart

    very nice blog there, try this site out for more forex related info. http://www.askmariosingh.com

  • KKK

    I agree ForexPhil !, By the way i’m Kristalene working with IronFX, Filipino based in Europe. i would be glad to assist and help if someone needs any, kindly email me at krivera@ironfx.com. Would be nice to help fellow kababayans.

  • Horst Manure

    Any one know of a platform to trade other than the FX ,,that I can use in the Philippines???

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  • Yolanda

    Hello,

    I have bad trading experience with Admiral Markets.

  • Yolanda

    That’s a good idea, because it will give us one voice that will fight for rights of the traders in the event that a broker/dealer exploit us thru unfair trade business esp. for the beginners in the forex trading in the country.

  • Yolanda

    Think 100 times first before trading with ADMIRAL MARKETS. Best to look at FX dealers either regulated
    by Financial Industry Regulatory Authority (FINRA) -USA, Ombudsman of Banking Services and Investments (OBSI) – Canada, Financial Services Agency (FSA)- Japan and The
    Financial Conduct Authority (FCA) – UK. These bodies are task to regulate FX
    brokers and other financial institution from NOT exploiting its clients.

    nT�
    me ? �; its clients.

  • Yolanda

    It’s good to trade in FX Broker/Dealer regulated by Financial Regulatory Bodies, like: Financial Industry Regulatory Authority (FINRA) -USA, Ombudsman of Banking Services and Investments (OBSI) – Canada, Financial Services Agency (FSA)- Japan and The Financial Conduct Authority (FCA) – UK.

    Those brokers regulated by the above-mentioned financial bodies will credit your deposit instantly especially when your deposit is intended to rescue/save your account from the adverse effect of the currency movement against your position, not like in Admiral Markets or its new name, your deposit will be credited to your account 6 hours late.

    So, instead of saving your account from losing, it wiped out in favor of the broker – Admiral Markets.

    Ask the Philippine staff of Admiral Markets in Manila if they are profiting from real trading, if none, then don’t let your money be robbed by this fx broker. Kung Hei Fat Choi!!!!!

  • Maricel Villarosa

    Hi I’m Maricel Villarosa, Filipino citizen and a representative of IKON Group, we’re expanding our business in Asia Pacific Region and we’re keen to look for a strategic partners here in the Philippines.
    We’re providing wide range of derivative products like FOREX, Futures, NDF, CFD, Options, Precious Metals & NASDAQ Gold.
    We’re a Regulated Broker at FCA in UK, FMA at New Zealand and ASIC in Australia
    We provide 24 hr. professional support and quality services to our clients. We’re also providing great rebates, sales and marketing support to our IB.
    We provide 100 % Security of Funds protection up to GBP 85,000 (US $140,000) for each account
    You can fund money via Credit Card and Tele Transfer

    It will be great if we form a certain alliance with you or your company. Please kindly add me at Skype so we can discuss further. Our Skype ID : Skype ID : IKON Pacific Philippines or Email me at: maricel.villarosa@ikonfx.com

    Thank you very much!